Exclusive to business users, the contract hire payment plan allows you to lease vehicles rather than own them. This way, drivers don’t need to be concerned about residual values or selling the vehicle when the finance term is up.
A contract hire agreement from Audi Finance can run over one, two, three or four years and if you’re VAT registered a proportion of the rentals may be tax deductible.
This quick video outlines the basics of Audi Contract Hire
Company Car Tax
This quick video outlines how to calculate your company car’s P11D value, which is used by HMRC for tax purposes.
Benefit in kind (BIK) tax
If you drive a company car you’ll be liable for benefit in kind or BIK tax. Watch the video to find out how to calculate your BIK tax rate.
Calculating private fuel
Company car drivers who get free fuel for private use have to pay tax. This video explains private fuel allowance liabilities.